hunting cloud network note: when you buy things in the store, do you think the one-time pay too much trouble? Have you ever fantasy, one day you can like buy games in app store to buy your favorite goods? Zuora (ZuRui) can make your dreams come true! As the leader of global order type with economic and fastest-growing SaaS company, not long ago , Zuora, successful financing $115 million!
Tien Tzuo was Salesforce’s chief marketing officer, later promoted to chief strategy officer. But in 2007, Tzuo resign from Salesforce, began his entrepreneurial journey, built the Zuora (ZuRui) company.
at the time, the mainstream software operation mode of the company on the market has gradually from inside the wall to the cloud. Tzuo believes that such change will greatly change people’s consumption and the mode of payment: from carefully a one-time payment, become simple and convenient order online.
just last week, Zuora received strong support, investors in the new round of financing successfully won $115 million, as much as $1 billion valuation. Tzuo claimed that the total amount of financing has been as much as $250 million.
in addition to existing investors, this round of new investors have Wellington, Blackrock, Premji and Passport Capital; These companies are listed or forthcoming.
Tzuo was the 11th employees to Salesforce, Salesforce software in the form of web service operation is the first commercial software companies. Also because of this, Tzuo to subscribe to the type of business model will be successful, the in the mind is that some of the bottom.
2008, as Apple launched the iPhone, carry your cell phone has more people. At the time, Amazon and Google in the first batch of cloud service providers.
Tien Tzuo told us that he expected the people’s consumption patterns will gradually turn to order online, and the range of goods is not only a software, will also include a lot more. Tzuo the idea of jing to Salesforce’s founder and CEO, Marc Benioff, namely Zuora’s one of the first group of investors in the future.
Zuora software to order the customer can find the goods they want, whether it’s physical goods or services online. Zuora software with Z – billing, Z – payment, Z – commerce, etc., to measure, pricing and billing any cloud computing business, and all the users can be traced.
to look back on those years entrepreneurship, Tien Tzuo laments Zuora today is not easy. Tzuo have a daughter 6 years old, and his hand founded the company age. Especially the more used to mend the old calculation using the new system, system of the customer, it is a difficult thing for ordering service charge. And the service of Zuora also can change the consistent sales and customer service operation pattern, and channels of financial track record.
about creating the difficulty of Zuora Tzuo also mentioned: he must be the people to subscribe to the type of business that a strange idea, but they need a lot of work to get up and down in the project of Zuora software on the right track. When Salesforce listed in 2004, the company’s software developers about 12 to 15. Guess how many software developers Zuora listed? 150.
but god pays off and Zuora customers more gradually up. First technology companies, followed by music, video, digital product vendors, and now, even the power equipment, medical equipment have the type of goods sold company also threw themselves at Zuora feet.
“it (the subscription economy) can stimulate the imagination”, Tien Tzuo said, “they realized that in the real equipment to add sensors, this is an important one. As you can see, the ideas put to great use.”
in the Saas market, Zuora will face some pretty strong opponents, such as Oracle and SAP. But Tien Tzuo says the two established companies will try to set cooperation strategy, but he said “those companies quickly found doing so there is no, can’t let them better adapt to the environment.”
Tien Tzuo call this round “mini IPO”, and mentioned the Zuora operating income has been as high as $100 million. “We have more and more like a listed company. Wellington provides us with a lot of funds and mutual funds, you will also see on capital formation table Hartford and Jhon names such as Hancock. Now we are rich enough to buy insurance, child education don’t have to worry about, after retirement funds and it is the guarantee, anyway have everything.”
now Zuora business model has been forming, Tien Tzuo said the new flow of funds will be used for a company in the United States and the development of the world, and from all fields to hire talent.
Zuora for the financing of the current investors are: Benchmark, Greylock partners, Redpoint Ventures, Index Ventures, Shasta Ventures, Vulcan Capital, Next World Capital, Workday company joint CEO Dave Duffield, and Marc Benioff.
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